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Jan. 27, 2021, 7:10 a.m. EST

JPMorgan Chase to launch digital consumer bank in U.K.

JPMorgan Chase & Co. (NYS:JPM) said Wednesday it is launching a digital consumer bank in the U.K. in the coming months, offering services via a mobile app. The bank will be headquartered in London with a contact center in Edinburgh, Scotland. The business has already created more than 400 jobs in the U.K. with additional hires planned as the business grows. Sanoke Viswanathan has been named CEO of the digital bank, after serving as chief administrative officer and head of strategy at JP Morgan's corporate and investment bank. JPMorgan shares were down 1.4% premarket.

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